Ooft! Crypto Investors Lost BIG in 2023...

TL;DR

• According to CoinLedger, the average crypto investor made less than $1k in realized gains last year - though, our guess is it’s because folks were buying/holding.

Full Story

That headline ☝️?

That was our reaction when we read this piece of news:

According to CoinLedger (the crypto tax software platform), the average crypto investor made less than $1k in realized gains last year.

Which made no sense, because the crypto market only climbed throughout 2023.

…but then we thought about it from a personal perspective — and something clicked.

We didn’t make ANY realized gains from crypto last year!

You have to sell your crypto to ‘realize’ a gain — and we spent the whole year buying.

So if you see this story being thrown around anywhere outside of this newsletter (e.g. your uncle Barry uses it as fodder in the family group chat “See, I told you this stuff was worthless!”) just remember:

2023 was a year of accumulation, and Barry (while lovable) is an idiot.

(As you’ve always known/celebrated him to be ❤️).